Madison Square Garden Entertainment (NYSE:MSGE) Sets New 1-Year High at $41.58

Madison Square Garden Entertainment Corp. (NYSE:MSGE)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $41.58 and last traded at $40.84, with a volume of 330496 shares traded. The stock had previously closed at $39.48.

Madison Square Garden Entertainment Trading Up 2.1 %

The business has a 50-day moving average of $38.65 and a 200 day moving average of $34.37. The firm has a market capitalization of $1.66 billion and a PE ratio of 26.60.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.69. Madison Square Garden Entertainment had a net margin of 8.03% and a negative return on equity of 94.05%. The company had revenue of $402.67 million during the quarter, compared to analyst estimates of $385.92 million. During the same quarter in the prior year, the business earned $1.95 earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, sell-side analysts expect that Madison Square Garden Entertainment Corp. will post 1.08 EPS for the current fiscal year.

Insider Activity

In other Madison Square Garden Entertainment news, CEO James Lawrence Dolan sold 24,284 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $37.31, for a total value of $906,036.04. Following the completion of the sale, the chief executive officer now owns 360,242 shares in the company, valued at $13,440,629.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 190,080 shares of company stock valued at $7,221,633 in the last 90 days. Company insiders own 18.72% of the company’s stock.

Hedge Funds Weigh In On Madison Square Garden Entertainment

Large investors have recently made changes to their positions in the business. Kettle Hill Capital Management LLC boosted its holdings in shares of Madison Square Garden Entertainment by 228.5% in the 3rd quarter. Kettle Hill Capital Management LLC now owns 192,500 shares of the company’s stock worth $6,335,000 after purchasing an additional 133,899 shares during the period. Walleye Capital LLC boosted its position in shares of Madison Square Garden Entertainment by 11.2% during the third quarter. Walleye Capital LLC now owns 536,644 shares of the company’s stock valued at $17,661,000 after buying an additional 53,967 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Madison Square Garden Entertainment in the fourth quarter worth approximately $8,970,000. Jericho Capital Asset Management L.P. bought a new stake in shares of Madison Square Garden Entertainment during the 3rd quarter worth approximately $62,652,000. Finally, Simplicity Solutions LLC lifted its position in shares of Madison Square Garden Entertainment by 24.0% during the fourth quarter. Simplicity Solutions LLC now owns 76,235 shares of the company’s stock worth $2,424,000 after purchasing an additional 14,734 shares during the last quarter. 96.86% of the stock is currently owned by hedge funds and other institutional investors.

Madison Square Garden Entertainment Company Profile

Madison Square Garden Entertainment Corp. engages in live entertainment business. The company produces, presents, and hosts live entertainment events, including concerts, sports events, and other live events, such as family shows, performing arts events, and special events. Its operations include a collection of venues, the entertainment and sports bookings business, and the Christmas Spectacular Starring the Radio City Rockettes production.